Russia, North Korea Sign Debt Pact

MOSCOW—Russia and North Korea have signed a deal to write off nearly all of the isolated Asian country's $11 billion Soviet-era debt, the Russian Finance Ministry said Tuesday.

The agreement forgives 90% of the old debt with the remaining $1 billion to be used as part of a "debt-for-aid" program that will develop energy, health care and educational projects in North Korea and will be repaid over the course of 20 years, the...